Gold Silver Reports (GSR) – The Chinese Ministry of Commerce announces a 25 percent charge on $16 billion worth of U.S. goods, including auto and crude oil.
Commodity News
Commodity News – Real-time Accurate MCX Commodity Market News and forecast for today. Best commodity market online tips through whatsapp and telegram by Neal Bhai.
Fire breaks out at Bharat Petroleum plant in Mumbai’s Mahul, Blast at BPCL unit
The fire department reported a level 3 fire call. Mumbai Fire Chief in a WhatsApp message to BusinessLine said that seven fire engines, two foam tenders and two jumbo tankers have been rushed to the refinery complex.
Gold Prices Up for 3rd Day in Row, Silver Rates Gain
Gold Silver Reports (GSR) – Global spot gold rate was steady at $1,213.05 an ounce, as of 0650 GMT, after hitting as high as $1217.85 in early trade. US gold futures were down 0.2% at $1,221.4 an ounce. Gold prices had rebounded on Friday from a 17-month low of $1,204 per ounce as dollar slipped after data showed US job growth slowed in July.
Gold May Hit $1,300 by End of Year, ICBC Says
Gold Silver Reports (GSR) – Bullion is set to average $1,260 an ounce in the third quarter and rise further in the following three months as interest rate increases are priced in and physical demand emerges, Marcus Garvey, a London-based commodities strategist, said in an interview in India.
World’s Most Expensive Precious Metal Set to Blossom as Shortage Looms
Gold Silver Reports (GSR) – As platinum miners curb production, rhodium output will drop, causing prices to rally further, Dawson said. That could rekindle visions of the market a decade ago, when rhodium topped $10,000 an ounce after five years of a supply deficit were compounded by South African power shortages that curbed mine output.
Gold Prices Extend Gains on Firm Global Cues, Jewellers’ Buying
Gold Silver Reports (GSR) – Globally, gold rose 0.51% to $1,213.30 an ounce and silver gained 0.62% to$15.38 an ounce in New York in yesterday’s trade.
Crude Oil Futures Settle at $68.96 – Gold Silver Reports
Gold Silver Reports (GSR) – Yesterday, the price closed below that level. Today, the price moved to a new low going back to June 22, but the break could not be sustained. The day is ending back above that key MA level. Buyers/bulls are hanging in there.